Broker predicts 6 pct drop in June gaming revenue

2014/7/1

From:Macau Business

Sterne Agee estimates that table-only gross gaming revenue in Macau’s casinos was MOP24.7 billion (US$3.1 billion) in the first 29 days of last month.

The stockbroker says the run-rate was MOP26.5 billion, or 6 percent less than a year earlier.

It now estimates that last month’s gaming revenue was 6 percent less than a year earlier.

But it still forecasts that revenue will be 11 percent higher this year than last year.

Sterne Agee expects casino business to increase again once the football World Cup ends halfway through his month, so removing a distraction for gamblers.

Copyright@Macau Business